Before people can file for Chapter 7 bankruptcy  or Chapter 13 bankruptcy, they must complete credit counseling as it is mandatory requirement in the United States.  Below, our firm addresses some common questions people have about credit counseling:

What is credit counseling?
This is a form of financial counseling where people who are filing for bankruptcy meet with a qualified agent or individual that is approved of by the U.S. Trustee.  During the meeting, people's income, assets and debt are reviewed and they are provided with information related to debt management and the bankruptcy process.

When must credit counseling be completed?
People must complete credit counseling 180 days prior to filing for Chapter 7 or Chapter 13.  After people have completed credit counseling, they receive a certificate of completion as proof.

How long does it take?
Generally, a credit counseling session takes 60 to 90 minutes.

How much does it cost?
A typical credit counseling session costs around $50.00.

If you have questions about the bankruptcy process and steps you must take, contact our law office and schedule an appointment with a Salt Lake City bankruptcy lawyer from our firm.

Many people wonder what happens during credit counseling and have questions about the credit counseling process.  In this post, we aim to provide people with the information they need to understand credit counseling before they file for Utah bankruptcy.

As mentioned in our prior post, "Credit Counseling Pre-requisite to Bankruptcy", people must fulfill the credit counseling requirement 180 days prior to filing for consumer bankruptcy.  When people go through credit counseling, they will meet one-on-one with a specialist or professional that is approved of by the U.S. Trustee Office.  Usually, the meeting will last for 60 to 90 minutes and will cost around $50.

People who go through credit counseling will have their personal finances evaluated and receive additional information related to the bankruptcy process.  After people have completed credit counseling, they will receive a certificate of completion which is automatically generated by the U.S. Trustee Office. 

If you have questions about credit counseling or bankruptcy, now is the time to contact the Stone Law Firm and speak with a Salt Lake City bankruptcy lawyer.

In the United States, people who are planning to file for consumer bankruptcy need to complete credit counseling.  This holds true whether they are filing for chapter 7 or chapter 13 bankruptcy. 

In 2005, the laws surrounding bankruptcy in the United States changed a great deal.   At that time, credit counseling became a mandatory pre-requisite.  According to the laws that were introduced, people who planned to file for bankruptcy must complete credit counseling 180 days before submitting their bankruptcy petitions.   Additionally, after bankruptcy paperwork is completed and submitted to the U.S. Bankruptcy Court, individuals must go through a debtor education program. 

Unfortunately, if people do not meet these requirements, they will not be eligible for consumer bankruptcy.  Therefore, it is extremely important that people fulfill these requirements so they can expedite the bankruptcy process. 

At the Stone Law Firm, we know that people can become confused by the steps they must take when filing for chapter 7 or chapter 13.  For this reason, we encourage people to contact our law office and meet with a Salt Lake City bankruptcy attorney from our firm.

Be sure to read our post "Credit Counseling Explained" to learn more.